Torrent Power LimitedTORNTPOWERCorporate

Utilities Utilities - Independent Power Producers Latest results: Mar 2026 14 quarters of data

₹1,226.30

MCap ₹61,794 Cr · P/E 25.6

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AI-assisted data: figures and text on this page are extracted from public quarterly filings with AI assistance, checked automatically and overseen by our editorial team (human in the loop). They may still contain errors or omissions. Verify critical numbers against official company / SEBI / NSE / BSE filings before making any decision. Educational information only, not financial advice.

₹6,406 Cr

Sales · Mar 2026

-0.8% YoY

₹1,149 Cr

Operating Profit · Mar 2026

+1.7% YoY

17.9%

OPM % · Mar 2026

+2.3% YoY

₹331 Cr

Net Profit · Mar 2026

-69.3% YoY

₹6.31

EPS · Mar 2026

-70.0% YoY

📝 Torrent Power Limited — results explained

Quarter ended March 2026 (Q4 FY26)

Torrent Power Limited reported revenue of ₹6,406 crore for the quarter ended March 2026 (Q4 FY26), down 0.8% from ₹6,456 crore in the same quarter last year, and down 5.5% sequentially over the December 2025 quarter.

Net profit fell 69.3% year-on-year to ₹331 crore, from ₹1,077 crore. Earnings per share (EPS) came in at ₹6.31.

Operating profit stood at ₹1,149 crore — an operating margin (OPM) of 17.9%, compared with 17.5% in the year-ago quarter.

Full year and trailing twelve months

For the full year FY26, Torrent Power Limited posted revenue of ₹28,966 crore, a decline of 0.7% over FY25, with a net profit of ₹2,412 crore (down 21.0% year-on-year).

On a trailing-twelve-month (TTM) basis, revenue stands at ₹28,966 crore with a net profit of ₹2,412 crore.

Valuation snapshot

At the current price of ₹1,226.30, TORNTPOWER has a market capitalisation of ₹61,794 crore and a trailing P/E of about 25.6.

Within the Utilities - Independent Power Producers industry, it is the 5th-largest of the 5 companies we track by market value.

Shareholding pattern

As of Jun 2026, promoters held 51.09%, foreign institutional investors (FIIs) 8.52%, domestic institutional investors (DIIs) 22.68%, the government 8.35%, public shareholders 9.36% of Torrent Power Limited.

📈 Share price & events

📊 Quarterly trend

₹ crore · OPM % on right axis

🎯 Key metrics

price-linked ratios use the latest close

Valuation

Market Cap ?

₹61,794 Cr

Current Price ?

₹1,226.3

P/E ?

25.61below ind

Industry P/E ?

26.50

P/B ?

3.24

P/S ?

2.13

P/FCF ?

-31.05

Enterprise Value ?

₹75,765 Cr

EV/EBITDA ?

13.67

PEG ?

4.27

Earnings Yield ?

5.2%

Dividend Yield ?

1.63%

Profitability & Returns

Sales (TTM) ?

₹28,966 Cr

OPM ?

19.1%

Profit after tax (TTM) ?

₹2,412 Cr

EPS (TTM) ?

₹47.88

ROCE ?

14.0%

ROE ?

12.6%

ROA ?

5.3%

Growth

Sales — latest qtr ?

₹6,406 Cr

PAT — latest qtr ?

₹331 Cr

YoY qtr sales growth ?

-0.8%

YoY qtr profit growth ?

-69.3%

Sales growth (3y) ?

Sales growth (5y) ?

19%

Profit growth (3y) ?

Profit growth (5y) ?

14%

Financial Health

Debt ?

₹13,971 Cr

Debt to Equity ?

0.73

Interest Coverage ?

4.2

Current Ratio ?

N/A

Ownership

Promoter holding ?

51.09%

Change in promoter holding ?

0.00%

Pledged percentage ?

N/A

Market

Return 3 months ?

-11.8%

Return 6 months ?

-21.6%

🗓️ Quarterly results (14 quarters · ₹ Cr)

same fiscal quarter as Mar bestweakest per row · for costs (interest, NPAs) low is best Highlight

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	YoY %	QoQ %
Sales	6,443	6,038	7,328	6,961	6,366	6,529	9,034	7,176	6,499	6,456	7,906	7,876	6,778	6,406	-0.8%	-5.5%
Operating Profit	1,444	1,090	1,185	1,221	1,044	1,109	1,858	1,207	1,112	1,130	1,483	1,506	1,403	1,149	+1.7%	-18.1%
Other Income	84	96	86	108	54	97	76	125	172	114	105	78	69	71	-37.7%	+2.9%
Interest	228	189	227	247	235	233	260	272	276	236	212	216	255	252	+6.8%	-1.2%
Depreciation	322	329	332	342	349	355	359	371	378	389	390	389	413	421	+8.2%	+1.9%
Profit Before Tax	977	668	711	741	513	617	1,315	689	630	619	985	979	805	547	-11.6%	-32.0%
Net Profit	695	484	479	543	384	444	996	492	489	1,077	685	742	655	331	-69.3%	-49.5%
EPS	14.24	9.34	9.96	10.94	7.98	9.23	20.23	10.23	9.76	21.03	13.59	14.36	12.76	6.31	-70.0%	-50.5%
OPM %	22.4%	18.1%	16.2%	17.5%	16.4%	17.0%	20.6%	16.8%	17.1%	17.5%	18.8%	19.1%	20.7%	17.9%	+2.3%	-13.5%

📆 Annual results (₹ Cr, FY = Apr–Mar)

Metric	FY25	FY26	TTM	YoY %
Sales	₹29,165 Cr	₹28,966 Cr	₹28,966 Cr	-0.7%
Operating Profit	₹5,307 Cr	₹5,541 Cr	₹5,541 Cr	+4.4%
OPM %	18.19%	19.13%	19.13%	+5.2%
NPM %	10.47%	8.33%	8.33%	-20.4%
Other Income	₹487 Cr	₹323 Cr	₹323 Cr	-33.7%
Depreciation	₹1,497 Cr	₹1,613 Cr	₹1,613 Cr	+7.8%
Interest	₹1,044 Cr	₹935 Cr	₹935 Cr	-10.5%
EBIT	₹3,810 Cr	₹3,928 Cr	₹3,928 Cr	+3.1%
PBT	₹3,253 Cr	₹3,316 Cr	₹3,316 Cr	+1.9%
Tax	₹141 Cr	₹238 Cr	₹238 Cr	+69.0%
Net Profit	₹3,054 Cr	₹2,412 Cr	₹2,412 Cr	-21.0%
EPS	₹61.25	₹47.02	₹47.02	-23.2%
Material Cost	₹4,831 Cr	—	—	—
Employee Cost	₹166 Cr	₹174 Cr	₹174 Cr	+5.1%
Extraordinary Items	—	—	—	—

🏛️ Balance Sheet (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Equity Capital	481	481	504	504	+0.0%
Reserves	10,529	11,581	17,111	18,571	+8.5%
Borrowings	10,541	11,632	8,840	13,971	+58.0%
Other Liabilities	8,320	9,633	10,004	12,147	+21.4%
Total Liabilities	29,872	33,326	36,459	45,193	+24.0%
Fixed Assets	19,269	21,802	24,286	25,615	+5.5%
CWIP	2,625	2,472	2,250	6,962	+209.4%
Investments	804	954	895	1,531	+71.1%
Other Assets	7,174	8,097	9,028	11,086	+22.8%
Total Assets	29,872	33,326	36,459	45,193	+24.0%

💧 Cash Flow (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Cash from Operating Activity	3,456	4,258	4,805	5,464	+13.7%
Cash from Investing Activity	-3,216	-3,544	-3,650	-8,088	-121.6%
Cash from Financing Activity	-341	-551	-1,216	3,101	+355.0%
Net Cash Flow	-101	163	-62	478	+871.0%
Free Cash Flow	432	659	608	-1,990	-427.3%
CFO/OP	82%	103%	94%	110%	+17.0%

➗ Ratios (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Debtor Days	32	29	30	29	-3.3%
Inventory Days	—	—	—	116	—
Days Payable	—	—	—	430	—
Cash Conversion Cycle	32	29	30	-285	-1050.0%
Working Capital Days	-9	-9	-3	-16	-433.3%
ROCE %	18%	15%	16%	14%	-12.5%

👥 Shareholding (latest 5 periods)

Metric	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	% Chg
Promoters	51.09%	51.09%	51.09%	51.09%	51.09%	+0.0%
FIIs	9.79%	8.82%	8.32%	8.40%	8.52%	+1.4%
DIIs	21.41%	22.16%	22.74%	22.82%	22.68%	-0.6%
Government	8.35%	8.35%	8.35%	8.35%	8.35%	+0.0%
Public	9.35%	9.60%	9.51%	9.33%	9.36%	+0.3%
No. of Shareholders	1,65,738	1,75,073	1,68,442	1,60,566	1,55,488	-3.2%

⚖️ Peer comparison

Industry: Utilities - Independent Power Producers · 5 companies · full page →

#	Company	CMP	MCap (Cr)	P/E	Sales TTM	NP TTM	OPM%	NPM%	Sales YoY%	NP YoY%	Qtr Rev Δ%	Qtr NP Δ%
1	ADANIPOWER Adani Power	₹186.90	360,431	25.3	59,033	14,532	37.4%	24.6%	-3.5%	1.7%	34.0%	47.2%
2	ADANIENSOL Adani Energy	₹1,272.60	155,633	52.4	30,480	3,091	29.9%	10.1%	50.9%	420.5%	42.4%	129.4%
3	TATAPOWER Tata Power	₹364.65	116,518	26.4	63,445	5,257	20.4%	8.3%	-4.7%	7.2%	5.6%	11.0%
4	JSWENERGY JSW Energy	₹518.45	94,999	43.7	18,965	2,460	53.5%	13.0%	60.9%	39.4%	1.2%	-36.3%
5	TORNTPOWER Torrent Power	₹1,304.90	65,754	27.8	28,966	2,412	19.1%	8.3%	-0.7%	-21.0%	-0.8%	-69.3%

❓ Frequently asked questions

What was Torrent Power Limited's revenue in Q4 FY26?

What was Torrent Power Limited's net profit in Q4 FY26?